Worries over opposition to a debt ceiling increase pressured equities on Equities, resulting in a mixed closing on Tuesday. However, the market received support from a surge in Nvidia shares, briefly propelling the chipmaker’s value to $1 trillion, a rare achievement. The S&P 500 index closed with minimal change but remained close to its highest Read More…
Recap from last weeks trade On May 2nd, we looked at taking a short trade that has now hit the maximum target. It was a very simple position where we took a short as the market refused to push through a resistance zone. Trading can be very simple if we use the correct mindset, manage Read More…
European equities experienced slight declines on Monday, while Eurozone bond yields decreased. However, the news of a debt ceiling deal in the US over the weekend maintained positive sentiment for Wall Street futures. US President Joe Biden and top congressional Republican Kevin McCarthy agreed on Saturday to raise the federal government’s $31.4 trillion debt ceiling Read More…
Quick recap Last week I mentioned staying away from trading 6E, but things have changed now that the FOMC and key US data is out of the way. There looks like a potentially high-risk reward trade that has a low probability of success, but nevertheless, I want to show you what it looks like to Read More…
Currency futures fell as the dollar gained for the third consecutive week on Friday due to increased expectations of higher interest rates and ongoing discussions about the US debt ceiling. Talks between President Joe Biden and top congressional Republican Kevin McCarthy showed some progress and calmed investors. However, doubts remained about the timing of an Read More…
Recap We have been tracking the inverted head and shoulders for a while in ES. Finally, it looks like price is breaking above the neckline, which is a great sign for the bulls. Please look at the previous article’s charts for reference if you have not been keeping up to date with the analysis. Below Read More…
Optimism surrounding the US debt ceiling talks and strong economic data exerted downward pressure on gold, pushing it to a two-month low on Thursday. Safe-haven demand for bullion diminished as US President Joe Biden and top congressional Republican Kevin McCarthy neared a potential agreement to cut spending and raise the debt ceiling. The progress in Read More…
Russell 2000 RTY On April 28th, there was a long trade opportunity with an entry price of $1,747.6, a profit target of $1,826.3, and a stop loss of $1,693.7. The market has rallied since then, just missing our target by a few ticks, and has now dropped back to the original entry price. Before we look Read More…
Technical analysis YM has rolled over since the most recent local top made at $34,373 from the beginning of May. We have seen a dip of 5% which is not significant, but the price action tells us the bearish momentum may still have further to go. The 200-day moving average is being tested at the Read More…
Oil prices increased by 2% on Wednesday due to a significant and unexpected decrease in US crude inventories. The Saudi energy minister’s warning about potential OPEC+ production cuts further contributed to the rise. The Energy Information Administration on Wednesday reported a substantial weekly drawdown of 12.5 million barrels, bringing US crude inventories to 455.2 million. Read More…
